EOG Resources comes back upon contact with important technical level that might give a new appreciation potential.

From a fundamental viewpoint, the company seems to be in a good shape. Indeed, sales are estimated in perpetual growth for the next two years. Thanks to good margins, the EPS is expected to grow by 40.3% between 2013 and 2014.

From a technical viewpoint, the stock has been oversold during last trading sessions due to the crude oil decrease. This movement could be exaggerate.
This brutal movement has led the stock on the USD 83.75 support which should enable the stock to have a new bullish trend. Moreover, these levels correspond to the upward trendline which should also support the rise. Above these levels, 4-traders analysts are optimistic and count on a return toward the short-term resistances around USD 95.

Investors can take a long position above the USD 86.70 area. In first instance, the target price will be the short term resistance at USD 95. In case of breakdown of the USD 83.75 support at the closing price, investors should close their positions.